Singapore’s Casinos Will ‘Flop’

[Ramseth]

Does Ronnie Chan really know about the gaming industry? I am not familiar with the industry as well and I am no big fuck like Ronnie Chan.

But I always thought casinos were always about volume. Cos the house take a cut from every bet through the odds, the more pple bet, the more they make. The more the bets are spread, the safer the house is.

The idea that you can only make money from high rollers is based on a marketing strategy that caters to only one market segment.

With due respect, I think that he watched too many HK gambling and casino movies like 赌神，赌圣，赌侠 etc. Go visit Genting, Macau, Australia and Nevada, and see for ourselves what casino business is all about and what sustains it. Rolls-Royce, Jaguar, Mercedes Benz and BMW all couldn't possibly be more profitable than Toyota, Honda, Mitsubishi and Nissan. In fact, no need to go so far, go watch the queues in your neighbourhood Singapore Pool outlets. Who gives Singapore Pool and Tote Board their profits?

 

[jw5]

With due respect, I think that he watched too many HK gambling and casino movies like 赌神，赌圣，赌侠 etc. Go visit Genting, Macau, Australia and Nevada, and see for ourselves what casino business is all about and what sustains it. Rolls-Royce, Jaguar, Mercedes Benz and BMW all couldn't possibly be more profitable than Toyota, Honda, Mitsubishi and Nissan. In fact, no need to go so far, go watch the queues in your neighbourhood Singapore Pool outlets. Who gives Singapore Pool and Tote Board their profits?

I have no idea whether what he says will come true or not, but Ronnie is indeed a very shrewd and smart businessman, in addition to being very articulate. You should try to hear him speak and compare this to our government officials and corporate leaders in SG.

 

[eatshitndie]

fair enough... but does the big rollers make and break the casinos?

in the case of macau, big american casinos are banking on high stakes rollers from china who have little idea of what they are getting into. these are either clueless provincial officials who most likely embezzled state funds or new millionaires who don't know how to spend their new found wealth. once beijing found out what was going on and started clamping down with new policies, the huge casinos are beginning to feel the hurt. small time gamblers, even in numbers, don't move the money flow like huge (clueless) gamblers do.

 

[Robert Half]

Singapore casinos' revenue will mainly depend on local Singaporeans who go there & gamble.
Foreign tourists won't stay here for more than 3 days.

 

[Jabba]

I dunno much but have u ever heard of any casino dat flops? leisure world have been floating off batam for 30 yrs? and it's still floating..

 

[Ramseth]

I have no idea whether what he says will come true or not, but Ronnie is indeed a very shrewd and smart businessman, in addition to being very articulate. You should try to hear him speak and compare this to our government officials and corporate leaders in SG.

I think that his conclusion (or prophecy) may turn out right, but not for the reasons he cited.

 

[Ramseth]

I dunno much but have u ever heard of any casino dat flops? leisure world have been floating off batam for 30 yrs? and it's still floating..

Among others, LV Sands was a big catastrophic flop last year, costing investors billions of dollars with only a fraction of its value left.

The magnitude? Let's just put it at what's worth US$150 per share become US$10 per share.

Furthermore, Macau casino retrenchments, haven't you heard?

 

[Jabba]

Uh huh...but that's due to ambitious expansions meeting meltdown...their outlets are generating profits still...anyway...what i meant is that i've nvr heard of any gaming operators closing down coz they flop at gaming tables. The house always wins.

 

[swampthing]

If you're talking about Macau, it's cause China limit its citizens from leaving the country too often. Turns out a lot of the players in the casinos were Chinese govt officials taking public funds to make themselves rich, but most of the time losing it all.

 

[Hans168]

I think the Indonesian whales will come; and the slots are also known for cleaning out people's pockets.

Anyway if do badly just lower local fee lor. Then the locals will come and give their money to the MIW again.

Yes the Indon whales will come........like they did in Christmas Island casino - private jets flew in super rich n ministers too. Pls basic millionaires. The island is small but biz was not bad........ also for them to go Perth or Crown Casino in Melbourne is too far ..............

 

[singveld]

asian big rollers are from china and hongkong right?
it is a bit far, maybe our bank can attract them, come and save your ill gotten wealth in our bank, it is safe here, and he can enjoy some of the ill gotten wealth in our casino, DBS bank the bank for the crook.

 

[langy]

dont say it WILL fail but very hard to succeed....
jus think - which type of airline makes more money :long haul or budget?
though long haul is more ex and lesser ppl per mile, it is big money in business and 1st class seats.
same with casinos - a single high roller can lose millions a nite which is equal to wat all the small fry gamblers lose that single nite. So whose business is more sought after?

prob here is the hotels and retails are so super exp and in SGD some more.....

 

[Ramseth]

Uh huh...but that's due to ambitious expansions meeting meltdown...their outlets are generating profits still...anyway...what i meant is that i've nvr heard of any gaming operators closing down coz they flop at gaming tables. The house always wins.

Yes, at the gaming tables or machines, the house always wins in the long run due to actuarial edges. However the casino business is not about about gaming tables only, otherwise they'd be simple common gambling dens, the most profitable of all but outlawed by all.

 

[CPTMiller]

Re: Singapore’s Casinos Will ‘Flop’

sin government are gd friend to myanmar millionaire generals.

The caSINoes are for our high valued, Indonesian's kawans, Malaysian Kawans, Mynamar friends, PRC guag xi's...whatever to roll their monies here...rolling, rolling...keep the dice roliing....

 

[Gallego99]

If you're talking about Macau, it's cause China limit its citizens from leaving the country too often. Turns out a lot of the players in the casinos were Chinese govt officials taking public funds to make themselves rich, but most of the time losing it all.

Donald Trump? No?

 

[Gallego99]

fair enough... but does the big rollers make and break the casinos?

Suffice to say they do make a difference to the bottom line. If you are a listed entity, that is an important driver.Asia is likely to see exponential growth of millionaires in years to come and I am sure you've encountered your fair share of the 'rich' who just dun know wat to do with their money.

 

[Cestbon]

To run a Casino need to have big overhead budget. So many Casino really depend on high roller, these group about 3% make up to about 50% of the total sum of betting.

 

[woofy]

It will definitely fail but PAP govt will deny; just watch what the govt is doing now, they are getting liberal with prostitution; close on eye attitude and look at AsiaOne news online, not a single day did they not post topics with sexual contents and girls scantily dressed. The govt is passively encouraging sex tourism to supplement their failure.
Big spender come here not just to gamble and then go to the library and our govt is fully aware of that.

 

[Ramseth]

Test:

1. Go find a multi-millionaire entrepreneur who wants to gamble away his millions of dollars so that he doesn't have to do business anymore.

2. Go find thousand-dollar per month salaried people who wants to get rich quick so that they don't have to work anymore.

My say is, high roller is a fallacy. How often can you depend on a rich person to be an idiot? You're in business because you want to be rich. He's already rich.

 

[shelltox]

The ah tiongs would come to gamble and launder their millions. Once the encashed their cheques, their illgotten gains are wash clean .